AVP-Insurance Compliance

Compensation

: $122,576.67 - $206,040.00 /year *

Employment Type

: Full-Time

Industry

: Executive Management



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The AVP, Insurance Compliance will provide ongoing analysis of insurance information received from borrowers and proactively identify and remedy insurance deficiencies. They will manage the prefunding review of insurance requirements for commercial real estate loans. They will also manage the ongoing review of insurance policies and renewals and provide training on same to others across the company.

Client Details

Our client is a not-for-profit, affordable housing lender.

Description

The AVP-Insurance Compliance will be responsible for:

  • Review multifamily mortgage loan portfolio on an ongoing basis to ensure Fannie Mae, Freddie Mac and other Investor insurance requirements are being evidenced properly.
  • Oversee departmental quality control measures to assist Portfolio Administrators review insurance requirements and coverage more efficiently.
  • Manage the process with Borrowers and Insurance Brokers to add additional coverage(s) if required by the lender to safeguard the property in the event of loss.
  • Develop standardized reports to track and report on insurance requirements across the portfolio.
  • Maintain up to date records regarding insurance requirements, carriers, and open issues.
  • Perform annual audits of the portfolio to ensure compliance with all investor insurance requirements.
  • Lead insurance reporting for all external audits.
  • Analyze flood certificates from FEMA to ensure appropriate insurance coverage is obtained prior to loan closure.
  • Collect, verify, monitor and track insurance information from Underwriters, Insurance Agents, Originators and others.
  • Contact Insurance Agents and Underwriting Analysts to obtain all information required to maintain compliance with loan documents.
  • Coordinate with Servicing, Closing and Asset Management departments to rectify any insurance deficiencies on closed loans.
  • Provide ongoing training on insurance-related policies and procedures across the company.
  • Perform other administrative duties, as directed.

Profile

The ideal AVP-Insurance Compliance will have:

  • BA/BS required.
  • Commercial insurance broker's license preferred but not required.
  • Minimum 5 years' experience working in the insurance industry with an expert knowledge of real estate and property coverage.
  • Demonstrated understanding of the commercial mortgage prefunding insurance review process.
  • Experience with Commercial Insurance Blanket Analysis, Compliance Reviews and Waivers.
  • Proficiency in MS Excel and MS Word.
  • Superior communication skills required.

Job Offer

The AVP-Insurance Compliance will receive a competitive annual base salary in New York, NY.



Associated topics: administrative assistant, administrative officer, administrative staff, beverage, document, front office, operational assistant, operations director, records management, support * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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